In case of ECS Debit Returns, Bank cannot charge higher than Cheque Return Charges as formulated by the Bank.

This is a good news for the Customers. Most banks had been previously charging even for inward remittance for RTGS, henceforth it will be FREE. Outward remittance charges have also been greatly rationalised to promote these modes for transaction.

In practice, banks save when Customers use NEFT/RTGS instead of Cheque or Cash Deposit, but Banks have some-how not encouraged these modes, except for few like ICICI Bank which offers free outward NEFT services for online customers.

The above maximum charges specified by the RBI are irrespective of the mode of instruction – Postal/Fax/Internet/Branch/Telebanking/ATM/etc… as accepted by the bank.